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Rep. Grace F. Napolitano's Statement on the Bailout

October 6, 2008
Press Release
Without changes to insure that taxpayers do not foot the bill for Wall Street’s mistakes and that real relief is provided to Main Street and working families, I cannot not support this legislation.
 
We need a bailout package that that focuses on helping families keep their homes and helping small businesses.
 
This bill does not include language to allow bankruptcy judges to restructure mortgage payments to help families in danger of foreclosure. The bankruptcy provision would have made this a much better deal for middle class families.
 
My constituents have been vocal and clear in opposing this bailout when they have called my office. I join my constituents in opposition to this bailout.